Indoor Location Market to be Dominated by growing popularity of location-based service mobile application across the globe Through 2028
Growing Popularity of Location Enabled Services driving
the implementation of the Indoor Location market across the globe.
According to TechSci Research report, “Indoor Location Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”
The global indoor location market has witnessed
substantial growth in recent years, driven by the increasing demand for
advanced navigation and positioning technologies within indoor spaces. As
smartphones and IoT devices become ubiquitous, the need for accurate and
seamless indoor location services has escalated across various industries,
including retail, healthcare, logistics, and entertainment. These solutions
offer benefits such as improved customer engagement, efficient resource
utilization, and enhanced safety protocols.
Technological advancements, such as Bluetooth Low
Energy (BLE), Wi-Fi, and Ultra-Wideband (UWB) technologies, have significantly
contributed to the expansion of the indoor location market. These technologies
enable precise indoor positioning, asset tracking, and location-based
analytics, allowing businesses to optimize operations and create personalized
user experiences. The adoption of indoor location services is particularly
notable in shopping malls, airports, and smart buildings, where navigation and
location-based services enhance visitor satisfaction and operational
efficiency.
However, the indoor location market also faces
challenges related to privacy concerns, accuracy in complex indoor
environments, and interoperability among different systems. Addressing these issues
will be crucial for sustaining the growth momentum of the indoor location
market. As the world becomes increasingly interconnected and reliant on
location-based services, the market is expected to continue evolving,
presenting new opportunities for innovation and collaboration among technology
providers, businesses, and consumers.
Browse over XX market data Figures spread through 170 Pages and an in-depth TOC on the "Global Indoor LocationMarket."
Based on technology, the market is segmented into tags,
nodes, ultra-wideband, bluetooth, wi-fi, visible light communication and
radiofrequency identification. Based on deployment type, the market is
segmented into on-premises and cloud. Based on components, the market is
segmented into hardware, software, and services. Based on application, the
market is segmented into remote monitoring, customer experience management,
inventory management, emergency response management, sales and marketing
optimization, risk management, predictive asset analytics and others. Based on
vertical, the market is further split into hospitality, retail, transportation
& logistics, entertainment, public buildings, manufacturing, and others.
Based on deployment type, the indoor location
market is segmented into on-premises and on-cloud based on deployment type. A
cloud-based indoor location utilizes enterprise cloud technology and follows a
web-based software as a service (SaaS) model. On the other hand, the
on-premises type system is deployed on the native hardware and network of the
business. Over the years, the on-premises location tracking infrastructure has
declined, while the demand for cloud-based systems continues to grow
significantly. This is primarily due to the enhanced flexibility, scalability,
disaster recovery, and security offered by cloud-based indoor location
solutions. Additionally, users benefit from automatic software updates without
the need for additional capital expenditures, which improves technological
competitiveness. As a result, the cloud-based indoor location market is
expected to attract significant attention and experience substantial growth.
Based on component type, the indoor location
market is categorized into hardware, software, and services based on
components. There are various methods of deploying an indoor location system
and a wide range of technologies available for enterprises to choose from.
However, the implementation of the indoor system necessitates three fundamental
components: hardware, software, and services. The hardware component consists
of node components, networking devices, sensors, receivers, and transmitters.
On the other hand, the software segment encompasses APIs that support the
system's functionality and provide analytical insights. The design and
implementation of indoor location systems require managed and professional
services, which also contribute to the overall revenue of the indoor location
market.
Based on vertical, the market is further split
into hospitality, retail, transportation & logistics, entertainment, public
buildings, manufacturing, and others. The retail segment is expected to
dominate the global indoor location market. The retail industry has been an
early adopter of indoor location technologies to enhance customer experiences
and drive business growth. By leveraging indoor positioning systems, retailers
can provide shoppers with personalized promotions, navigation assistance, and
product recommendations based on their precise location within a store. This
level of customization enhances customer engagement, encourages longer dwell
times, and ultimately boosts sales. Additionally, indoor location solutions
enable retailers to gather valuable insights into customer behavior and foot
traffic patterns. This data enables retailers optimize store layouts, product
placements, and staffing, leading to improved operational efficiency and
better-informed business decisions. As a result, the retail segment stands to
benefit significantly from the integration of indoor location technologies.
The growing trend of integrating online and
offline retail experiences, often referred to as "brick-and-click"
strategies, further reinforces the importance of indoor location solutions in
the retail sector. These technologies bridge the gap between physical and
digital shopping environments, enabling retailers to create seamless
omni-channel experiences that cater to the preferences and needs of modern
consumers. While retail is poised to be a dominant vertical in the indoor
location market, other sectors such as healthcare, hospitality, logistics, and
entertainment are also expected to witness substantial adoption of indoor
location technologies, each contributing to the overall growth and evolution of
the market.
Key market players in the global Indoor Location market
include:
·
HID Global Corporation
·
HERE Global BV
·
STMicroelectronics N.V.
·
Sonitor Technologies AS
·
Zebra Technologies Corporation
·
Hewlett Packard
Enterprise Development LP
·
Mist Systems Inc.
·
Broadcom, Inc.
·
Cisco Systems, Inc.
·
Acuity Brands, Inc.
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“North America is projected to experience the
highest compound annual growth rate (CAGR) during the forecast period. The
region is anticipated to hold a significant share of the Indoor Location market
due to the increasing penetration of smartphones and the development of IoT
technologies. Moreover, North America stands as the second-largest market for
tablets, smartphones, and in-vehicle navigation systems globally. It is also a
dominant player in aerospace and maritime navigation equipment manufacturing,
as well as airplane production. The United States holds a substantial market
share across various end-user industries in North America, especially in the
consumer electronics sector. The country boasts high smartphone penetration and
sales, supported by robust infrastructure, research funding, and government
initiatives aimed at enhancing technological penetration and accuracy. Furthermore,
increasing investments in the development of various technologies and the
adoption of indoor location solutions are furthermore propelling the growth of
indoor location in the global market,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Indoor Location Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028
Segmented By Technology (Tags, Nodes, Ultra-Wideband, Bluetooth, Wi-Fi, Visible
Light Communication and Radiofrequency Identification), By Deployment Type
(On-Premise and Cloud), By Components (Hardware, Software and Services), By Application
(Remote Monitoring, Customer Experience Management, Inventory Management,
Emergency Response Management, Sales and Marketing Optimization, Risk
Management, Predictive Asset Analytics and Others), By Verticals (Hospitality,
Retail, Transportation & Logistics, Entertainment, Public Buildings,
Manufacturing and Others), By Region, Competition”, has evaluated the future growth potential of Indoor
Location and provides statistics and information on market structure, size,
share, and future growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global Indoor Location
market.
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